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Business Planning for Agents: 2015 Success Strategy, Part 2

In the second of our two-part series, real estate marketing expert Mike Blaney offers invaluable tools and checklists for 2015 business planning

By
REW.ca
January 16, 2015






Calendar calculator new job
In part 1 of this business planning feature, we started by reviewing 2014, then looked at reviewing your prospects and clients, and identifying successful and less successful strategies.

To help you plan for 2015, use these checklists and forms to commit your 2015 business plan to paper.

Your Income and Transaction Goals for 2015

1. My income goal for next year:  ________

2. My average commission per transaction last year: ________

3. Number of transactions needed to reach your 2015 income goal (divide 2 by 1) ________

4. Percentage of closed sales that were listings last year: ________

5. Number of listings needed in 2015 to reach your goal (apply percentage in 4 to 3): ________

6. Number of buyer closings needed in 2015 to reach your goal (subtract listings from total transactions needed): ________

Prospect Calculator                                                        

Next, fill in the blanks to calculate the number of prospects needed to meet your income goals.

Number of closings desired in 2015:  ________

x 25 (assuming a prospect to sale ratio is 25-to-1) ________

= total number of prospects needed per year ________

Total number of prospects needed daily:

Annual prospects needed: ________

Divided by 12 months: ________

Divided by 24 days (or number of days you work per month): ________ = prospects needed daily

2014 Production Analysis Chart

Use this Production Analysis Chart to track your 2014 closings.

     Address      Sale Price       Source of Lead           Buyer/Seller    Community      Property Type

1.

2.

3.

Choose Your Target Markets

Select your target market or markets; a group or area where you will generate leads through focused communication. Look back at your 2014 sales in chart above and determine if there any patterns in your 2014 closings that suggest natural target markets for 2015?

  • Neighbourhood Farm                         
  • Move-up Buyers
  • FSBO                                                   
  • Home Builders
  • Expired Listings                                  
  • Empty Nesters
  • Referrals from Clients                                   
  • Renter to First-Time Homebuyer
  • Out-of-area agents                            
  • Relocation Companies
  • Multi-property Investors                    
  • Sphere of Influence
  • Agents Getting Out of the Business   
  • Past Clients
  • Growing Families                               
  • Other: ________________

Marketing Strategies

Review these strategies and determine which ones will get you closer to your goal:

  • Use database to manage client contacts
  • 10 personal notes per week
  • Open houses
  • Personal brochure
  • Deliver client packages personally
  • Attend at least one training each month to improve skills
  • Contact past clients consistently
  • Telemarketing campaigns
  • Homebuyer seminars
  • Direct mail to target markets
  • Co-marketing with affiliates and associated professionals
  • Magazine and newspaper ads
  • Mail note pads and other items to farm
  • Quick response email and text messages
  • Regular website updates
  • Buyer pre-approval prior to showings
  • Contributions to online forums
  • Blog posts
  • Structured listing presentation
  • Video marketing
  • Online reviews
  • Pay-per-click advertising
  • Other: ______________

Routines, Systems, Checklists and Forms:

To implement your business plan you will need to set up routines, systems, checklists and forms. Create a daily and weekly routine that keeps you on top of your goals and progress while you take specific, planned actions. Looking at progress and taking action are important.  When the right things are measured and progress is reviewed daily, you’ll get the feedback necessary to understand what is working and what needs attention.

A good plan has routines and systems that are simple, clear, easy to follow and the key that brings results quickly and continuously.

What Would I Recommend You NOT Do in 2015?

Too much Facebook: If you find that you spend more time working on your Facebook page than you do working on your website, then you are limiting your success. Blogging and adding content will be 100 times more effective than Facebook posts in my opinion.

Posting “new listing” flyers on social media: Your followers and friends are not interested on your new listings. These posts cause many people to stop following your feeds, as this kind of activity seems “all about me.”

Emailing “just listed” flyers to other agents: Why spam your fellow Real Estate Agents? Is it because everyone else is doing it? Your new listings will hit the MLS® where the active Real Estate Agents will see it. This is a time waster that feels good, but has little impact.

Good luck this year and I wish you the greatest success.


Mike Blaney has been providing a wide range of marketing services to REALTORS® for more than 14 years. Limelight Marketing Solutions is a collaboration of enthusiastic marketing professionals that are committed to driving measurable results for REALTORS®. The company offers services including social media marketing, search engine optimization, video marketing and much more.
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